The daily herald. [volume] (Honolulu, Hawaiian Islands) 1886-1887, 1887-01-13
Sr subscriptions Payable Ia Adra"es.
THURSDAY, JANUARY IS, 1887
THE SUGAR OUTLOOK.

The San Francisco Bulletin reviews
the sugar trade for 1886 and discusses
its prospects for 1887 1t refers to the
expansion Of the business of the
American refinery, under the contracts
with Hawaiian planters giving it about
two-thirds OF the sugar crop of the
islands for three years, one of which
has run, and says it is thought this
year will give the American still
larger proportion Of the Hawaiian
crop, as the result of negotiations
made few weeks ago. Although the
improvements at this refinery did not
become available until last March, it is
claimed that 65,ooo tons sugar had
been handled during the year The
daily capacity Of the American is $50
tons, and that of the California still
greater, so that either one can supply
all the wants OF the Pacific States and
Territories, and the only way that both
find employment is by an extension Of
trade to distant points, in which there
is probably no money. Prices have
changed oftener at San Francisco than
for any previous year in long time,
the result Of sharp competition between
the two refineries. Prices January rst,
1886, Crushed IL c, ID. Gran.
N C, Golden c. 81 C.; February 4th
Crushed on c, d. Gran. 6A.c.,
Golden c. 5A c; Dec. rsth-Crushed
c., d. Gran. 574 c., Golden c. ~ c.
The sharp change on February'4th was
caused by dropping rebates and adopt
ing net cash basis Under the re-
bate system jobbers sold at refining
prices, but under net cash have to
charge a small advance on refinery
prices. "Formerly it was in the power
of the California Refinery to make the
rate for the American Refinery. This
has not always been the case in the
past year, especially in the last quarter,
and is, apparently, likely to be still less
in the future. OF late the American
refinery has been getting more for its
sugars than the California refinery. To
disinterested parties, any further cut
ting OF rates by the two local rehneries
appears to be useless"
This review estimates the excess o
all foreign countries for the ensuing
year at 5o8,ooo tons. The European
beet crop excess is put down at 45S,
900 tons. Brazil $4,000, and Demerars
10000 tons. The countries showing q
deficiency are Mauritius $4,000 tons
Porto Rico 5000, and Hawaiian
Islands 1000 tons. AS an Offset to
this foreign %xcess Of 5oS,ooo tons, a
deficiency Of 10000 tons is reported in
the Louisiana crop; besides which the
effect of heavy rains delaying grinding
in the West Indies calls for reduc
ton of 10000 tons there, and some
think the Hawaiian deficiency will moi
be over 10000 tons. Despite the low
prices Of sugar the year closed in the
United States with larger stocks thar
for any corresponding period in a mum
Der Of years, being roA593 tons
against 64,9ao tons at the latter end Of
1885
The reviewer believes that more
sugar has been consumed in the
United States in the past year than fol-
any previous year "rhe total stock
Of raw sugar in all consuming countries
at the latest uneven dates by mail and
cable was 788,78a tons, against S6I,-
r47 tons at corresponding dates last
year. We are inclined to believe that
sugar prices have touched the lowest